Electromech Infraprojects IPO: AIG-Backed Company Files DRHP With ₹326 Crore Fresh Issue
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The company plans to use the fresh capital for working capital and subsidiary investments, while its ₹829.72 crore order book includes ₹729.46 crore of data-centre projects.
Mechanical, electrical and plumbing (MEP) solutions provider Electromech Infraprojects has filed its draft red herring prospectus (DRHP) with SEBI for an IPO comprising a fresh issue of ₹326 crore and an offer for sale (OFS) of 18.91 lakh shares. The company has not yet disclosed the IPO price band or issue dates.
The OFS will include the sale of 18.91 lakh shares by existing shareholders, including AIG Direct LLC and the promoter Maniar family. AIG Direct, an affiliate of American International Group, holds a 7.04% stake in Electromech Infraprojects and plans to sell 5.25 lakh shares through the offer.
Electromech Infraprojects had an order book of ₹829.72 crore as of March 2026, with data-centre projects accounting for ₹729.46 crore, or nearly 88% of the total. The company reported consolidated revenue of ₹427.05 crore and a profit of ₹36.19 crore in FY26, according to its IPO documents.
Electromech Infraprojects IPO details
The proposed IPO will consist of a ₹326 crore fresh issue and an OFS of 18.91 lakh equity shares. The fresh issue proceeds will be used for working capital requirements, investments in subsidiaries and general corporate purposes.
Electromech Infraprojects has earmarked ₹100 crore from the fresh issue for working capital. It plans to invest another ₹76.47 crore in its subsidiary Jika EPC Services to increase its holding from 34.78% to 60%.
The investment in Jika EPC Services will comprise both subscription to fresh equity shares and secondary acquisition of shares. The company will also invest ₹24.15 crore in Sinerco Power Systems and ₹30 crore in Electromech Global Holdings.
The remaining proceeds from the fresh issue will be used for general corporate purposes. Electromech Infraprojects provides mechanical, electrical and plumbing solutions, including high- and low-voltage electrical works, mechanical systems, fire protection, civil works and interior fit-outs.
The company has developed a focus on digital infrastructure projects, particularly data centres and global capability centres. Its services cover the technical design, execution, testing and commissioning of such projects.
As of March 2026, data-centre projects accounted for ₹729.46 crore of its ₹829.72 crore order book. The company also undertakes projects for commercial and industrial customers.
AIG Direct among selling shareholders
AIG Direct LLC is among the shareholders participating in the OFS and plans to sell 5.25 lakh shares. The investor currently holds a 7.04% stake in Electromech Infraprojects.
The promoter Maniar family will also sell shares through the OFS. Shreyas Shibulal, son of former Infosys CEO S D Shibulal, holds a 1.47% stake in the company.
Electromech Infraprojects was incorporated in Mumbai and has operations focused on engineering and infrastructure services. Arihant Capital Markets is the sole merchant banker for the proposed IPO.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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